Shelly 
HDFC Bank Ltd.’s net profit rose in the third quarter on higher total income and lower provision.
India’s largest private sector lender saw its net earnings increase 18% over the year earlier to Rs 10,342 crore in the three months ended December, according to its exchange filing. That compares with the Rs 10,136-crore consensus estimate of analysts tracked by Bloomberg.
Its net interest income, or core income, rose 13% year-on-year to Rs 18,443 crore.
Other income jumped 10% to Rs 8,183.6 crore.
The private lender’s asset quality improved during the reported quarter.
Its gross non-performing asset ratio fell to 1.26%, down 9 basis points sequentially.
Net NPA ratio also declined 3 basis points over the preceding three months to 0.37%.
Total provisions during the quarter fell 12.3% year-on-year to Rs 2,994 crore.
The bank, as on Dec. 31, had restructured retail loans worth Rs 14,564 crore under the Reserve Bank of India’s second Covid-19 restructuring scheme. Individual business loans worth Rs 1,566 crore and small business loans worth Rs 1,889 crore were also restructured under the extended scheme announced in May 2021.
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